US Bancorp DE Increases Position in Quanta Services, Inc. $PWR

US Bancorp DE lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,326 shares of the construction company’s stock after acquiring an additional 2,620 shares during the quarter. US Bancorp DE’s holdings in Quanta Services were worth $10,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PWR. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Quanta Services during the second quarter worth $650,960,000. Nuveen LLC purchased a new stake in shares of Quanta Services during the first quarter worth $404,288,000. Amundi increased its position in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after acquiring an additional 788,079 shares during the period. Jennison Associates LLC increased its position in shares of Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after acquiring an additional 504,540 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $417.15 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $443.97. The company has a market capitalization of $62.16 billion, a PE ratio of 64.57, a P/E/G ratio of 2.47 and a beta of 1.04. The company has a fifty day moving average of $391.79 and a two-hundred day moving average of $355.54.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Quanta Services’s revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.19%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PWR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday. Truist Financial upped their price objective on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and increased their target price for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and increased their target price for the company from $398.00 to $469.00 in a report on Wednesday, September 24th. Finally, DA Davidson increased their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $408.45.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.